What to watch on U.S. economy on Tuesday

An index of sentiment among homebuilders is expected to tick higher to 48 in February from 47 in January, according to economists surveyed by MarketWatch. Sentiment was unchanged in January, remaining at the highest level in more than six years.

The builders’ sentiment gauge has been climbing up for months on low inventories, and increasing sales and price trends. However, the index remains below a key reading of 50. Readings over 50 indicate that more builders see sales conditions as good than poor.

Sentiment levels among homebuilders are up 88% from a year earlier. The National Association of Home Builders/Wells Fargo Housing Market Index will be released at 10 a.m.

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